Time to Consider Some Shorts

By

Timothy Collins

| Feb 4, 2014 | 12:44 PM EST

Yeah, a bounce! Don't get too excited. This is just one day, working off a very, very oversold market. If any of your holdings made you queasy as you watched them drop Monday, you should reconsider continuing to hold them, at least in the current quantity -- and especially today, if they are getting a strong bounce.

Monday's low has become very important, and the S&P 500 could still have another 20 handles to go on the upside before it encounters heavy resistance -- but I am taking some off the table, and I've recaptured a bit more than half of my drop from yesterday. Believe me, yesterday was not a good day, but I will consider myself a bit lucky here and pull the reins in. Nothing was solved overnight but, then again, some may argue nothing was broken. A lot of economic data are still coming our way, including nonfarm payrolls as the biggie to end the week....346 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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